# 1. According to the law of supply, price and quantity move a) along a track in the same direction. b) along a track in opposite directions. c) from different points toward one another. d) from the same point away from one another. 2. According to the law of demand, price and quantity move A) along a track in the same direction. B) along a track in opposite directions. C) from different points toward one another. D) from the same point away from one another.

Along a track in the same direction.

## Explanation:

According to the law of supply in economics, if the price of goods increases, the number of goods will also increase and vice versa. The reason for it is that when the price grows, suppliers will try to maximize their profits by manufacturing more products for sale. The supply curve shows this phenomenon in detail.

Question 2.

Along a track in opposite directions.

## Explanation:

The law of demand is a fundamental concept in economics that states that the quantity varies inversely with price. It means that the higher the price of goods, the lower the purchased quantity. The demand curve is an inverted version of the supply curve.

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Academic.Tips. (2022) '1. According to the law of supply, price and quantity move a) along a track in the same direction. b) along a track in opposite directions. c) from different points toward one another. d) from the same point away from one another. 2. According to the law of demand, price and quantity move A) along a track in the same direction. B) along a track in opposite directions. C) from different points toward one another. D) from the same point away from one another'. 30 January.

Reference

Academic.Tips. (2022, January 30). 1. According to the law of supply, price and quantity move a) along a track in the same direction. b) along a track in opposite directions. c) from different points toward one another. d) from the same point away from one another. 2. According to the law of demand, price and quantity move A) along a track in the same direction. B) along a track in opposite directions. C) from different points toward one another. D) from the same point away from one another. https://academic.tips/question/according-to-the-law-of-supply-price-and-quantity-move/

References

Academic.Tips. 2022. "1. According to the law of supply, price and quantity move a) along a track in the same direction. b) along a track in opposite directions. c) from different points toward one another. d) from the same point away from one another. 2. According to the law of demand, price and quantity move A) along a track in the same direction. B) along a track in opposite directions. C) from different points toward one another. D) from the same point away from one another." January 30, 2022. https://academic.tips/question/according-to-the-law-of-supply-price-and-quantity-move/.

1. Academic.Tips. "1. According to the law of supply, price and quantity move a) along a track in the same direction. b) along a track in opposite directions. c) from different points toward one another. d) from the same point away from one another. 2. According to the law of demand, price and quantity move A) along a track in the same direction. B) along a track in opposite directions. C) from different points toward one another. D) from the same point away from one another." January 30, 2022. https://academic.tips/question/according-to-the-law-of-supply-price-and-quantity-move/.

Bibliography

Academic.Tips. "1. According to the law of supply, price and quantity move a) along a track in the same direction. b) along a track in opposite directions. c) from different points toward one another. d) from the same point away from one another. 2. According to the law of demand, price and quantity move A) along a track in the same direction. B) along a track in opposite directions. C) from different points toward one another. D) from the same point away from one another." January 30, 2022. https://academic.tips/question/according-to-the-law-of-supply-price-and-quantity-move/.

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"1. According to the law of supply, price and quantity move a) along a track in the same direction. b) along a track in opposite directions. c) from different points toward one another. d) from the same point away from one another. 2. According to the law of demand, price and quantity move A) along a track in the same direction. B) along a track in opposite directions. C) from different points toward one another. D) from the same point away from one another." Academic.Tips, 30 Jan. 2022, academic.tips/question/according-to-the-law-of-supply-price-and-quantity-move/.

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